EA Cables and Transcentury complete a debt structuring deal
East Africa Cables PLC and its parent company TransCentury PLC have completed a debt restructuring transaction which involves refinancing of company debt. This has majorly resulted in a 44% reduction [...]
Mobile money service gets to South Sudan
Zain telecoms South Sudan and Trinity Technologies have partnered to provide the first mobile money service in South Sudan. The service is dabbed m-gurush which stands for mobile money in [...]
The Continent’s largest Wind farm opened in Kenya
President Uhuru Kenyatta on Friday presided over the launch of the largest Wind Farm in Africa. The Windpower station consists of 365 turbines mounted on the shores of Lake Turkana, [...]Tech Company Oracle Kenya appoints David Bunei as the new MD
The technology company Oracle has picked David Bunei to lead the Kenyan team. David will guide the firm in providing digital services to private and public entities. Before his appointment, [...]Kenya’s funding model presents a challenge –Moody’s
A report by Moody’s Investors Service highlights the government’s over-reliance on funding from local commercial banks. The banks finance over 50 percent of Kenya’s domestic borrowing. According to researchers at [...]KSh8 trillion transacted through mobile money channels in 2018
The use of mobile money in Kenya has remarkably increased in the past few years. In 2018, transactions worth KSh8 trillion were conducted through mobile-based platforms, equivalent to 91 percent [...]Safaricom’s Masoko to expand beyond Kenya by 2020
Safaricom has announced plans to grow its e-commerce business beyond the Kenyan borders by the year 2020. The information was revealed by the Chief Financial Services Officer Sitoyo Lopokoiyit during [...]Express Kenya CEO exempted from takeover law
The CEO of Express Kenya Hector Robert Diniz has been excused from complying with Regulation 4 of the Capital Markets (Take-over and Mergers) Regulations 2002 by the markets regulator – [...]Work resumes at Kengen’s OlKaria V power plant after a safety incident
Commissioning tests have resumed at Kengen’s Olkaria V power plant after a brief disruption over the weekend. Activity at the power plant was put on hold on Friday evening after [...]Kenya and Singapore agree to partner in developing digital infrastructure
The Central Bank of Kenya and the Central Bank of Singapore have signed an agreement to promote digital infrastructure development in Kenya. Singapore will assist Kenya to establish basic digital [...]Central Bank writes to Banks and Micro-finance institutions about betting firms
The Central Bank of Kenya has written to CEOs of all Commercial Banks and Microfinance Institutions concerning the betting firms whose licenses have not been renewed. A letter from CBK [...]Savannah Cement invests KSh5 billion into a new plant
Savannah Cement, the youngest entrant into the Cement industry in Kenya is constructing a KSh5 billion grinding plant in Kitengela. The plant is expected to produce 1.2 million tonnes of [...]
